Apple Hospitality REIT (NYSE:APLE) Sets New 12-Month High - Here's Why

Key Points

• Apple Hospitality REIT (NYSE: APLE) hit a new 52-week high of $13.31 in mid-day trading and last traded around $13.235 with roughly 658,234 shares changing hands.
• Analysts are mixed — three Buy vs. five Hold give a consensus Hold rating and an average price target of $12.64, with firms like Wells Fargo and Barclays trimming targets while Cantor Fitzgerald remains overweight at $14.
• The company reported a quarterly EPS miss ($0.13 vs. $0.29 expected) but a slight revenue beat, and declared a monthly $0.08 dividend (annualized yield ~ 7.3%) despite a high payout ratio (~129.7%).

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $13.31 and last traded at $13.2350, with a volume of 658234 shares traded. The stock had previously closed at $13.14.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on APLE shares. Wells Fargo & Company cut their price objective on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $14.00 price target on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. LADENBURG THALM/SH SH began coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They set a "neutral" rating and a $13.00 price target for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Apple Hospitality REIT in a research report on Wednesday. Finally, Barclays dropped their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.64.

Apple Hospitality REIT Stock Up 0.3%

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 17.83 and a beta of 0.82. The business's fifty day moving average is $12.15 and its two-hundred day moving average is $11.97.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.16). The business had revenue of $326.44 million during the quarter, compared to analyst estimates of $322.60 million. Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. Equities analysts forecast that Apple Hospitality REIT, Inc. will post 1.49 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be issued a $0.08 dividend. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. Apple Hospitality REIT's payout ratio is 129.73%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APLE. Norges Bank acquired a new position in shares of Apple Hospitality REIT in the fourth quarter valued at approximately $40,950,000. Centerbridge Partners L.P. lifted its stake in Apple Hospitality REIT by 88.2% in the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust's stock worth $50,123,000 after acquiring an additional 1,982,000 shares during the last quarter. UBS Group AG lifted its stake in Apple Hospitality REIT by 60.8% in the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust's stock worth $55,950,000 after acquiring an additional 1,786,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Apple Hospitality REIT in the fourth quarter worth approximately $13,361,000. Finally, Pacer Advisors Inc. purchased a new position in Apple Hospitality REIT in the fourth quarter worth approximately $11,498,000. Institutional investors and hedge funds own 89.66% of the company's stock.

About Apple Hospitality REIT

Apple Hospitality REIT NYSE: APLE is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company's portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company's holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.